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An old idea springs anew as a chorus of influential voices predicts that AI may trigger crises of vast magnitudeIn a preface to his book Capitalism and Freedom, the American economist Milton Friedman famously observed that a crisis can propel once-fringe ideas into the political mainstream.“Only a crisis – actual or perceived – produces real
Is a job guarantee the solution to mass AI unemployment? Read More »
Much of Donald Trump’s unpopularity in polls stems from dissatisfaction over the economy and war on IranUS politics live – latest updates*** Continue reading…
From Iran to AI: the six key voter issues shaping the US midterm elections Read More »
Chip makers and tech investors such as Samsung and SoftBank plunge as global investors fret over potential interest rate hikesBusiness news – live updatesLarry Elliott: the global economy is muddling through. But a storm is comingAn accelerating sell-off of AI-linked shares has hit global markets, as fears over rising inflation and future interest rate hikes
Tech market sell-off deepens amid fears over US inflation and AI debt Read More »
‘Even if AI supercharged the economy, its impact on the government’s finances would be muted’Back through political history to the age of Ronald Reagan, Republicans have repeatedly promised the US public that tax cuts would pay for themselves, firing up economic growth and filling the government’s coffers.The promise never really panned out. From the Gipper’s
US’s Reagan-era economic promises return as Trump’s AI-fueled growth fantasy Read More »
Rising cost of 10-year gilt to near 19-year high hikes upfront cost of government investment and limits chancellor’s room for manoeuvreBusiness live – latest updatesInternational bodies warn of rising debt and borrowing risksBurnham stands by claim UK is ‘in hock’ to bond marketsA global sell-off in government bonds has put fresh upward pressure on UK
Global bond sell-off piles new pressure on UK borrowing costs before budget Read More »
Coming midterm elections are starting to be framed not as right versus left but instead the ‘well-fed versus the fed-up’Brian Leeland, a 79-year-old Democratic voter in Detroit, had enough. Frustrated by the way the US media covers this febrile political era, from Donald Trump’s Washington to political campaigns across the country, he contacted the Guardian.“Your
With traditional goals such as stability and homeownership feeling out of reach, young people are focused on the presentBy now, we all know the shape of financial nihilism: the throw-your-money-at-anything reaction to the dissolution of the slow, linear path to wealth; the prediction markets, meme stocks, cryptocurrencies and microluxuries growing in its place. We’re left
Poll after poll shows the same thing. The American people know that the current economic system is riggedThe media pundits have written article after article desperately trying to understand why progressive candidates, despite being heavily outspent, keep defeating establishment Democrats in primaries around the country. Well, the answer is not complicated.Whether it is a corrupt
S&P 500 shot up 1.8% and the main measure of Wall Street’s health topped its prior all-time high set a few months agoThe US stock market rallied to records on Tuesday as profits kept piling up for companies and as oil prices eased.The S&P 500 shot up 1.8%, and the main measure of Wall Street’s
US stock market hits record highs as AI profits pile and oil prices ease Read More »
Cheerleading by the president, who made $1.2bn last year off uninsured currency, does not bode well for US economyThe scale of the graft is decidedly off the charts, but the revelation that Donald Trump raked in a personal fortune of $2.2bn during his first year in office should come as no surprise. The president didn’t
